Vanguard Group Inc. trimmed its position in Universal Display Corporation (NASDAQ:OLED - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,612,391 shares of the semiconductor company's stock after selling 171,708 shares during the period. Vanguard Group Inc. owned about 9.70% of Universal Display worth $643,336,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of Universal Display in the 4th quarter worth $29,000. Golden State Wealth Management LLC lifted its stake in shares of Universal Display by 4,700.0% in the 1st quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 235 shares during the last quarter. Global X Japan Co. Ltd. purchased a new position in shares of Universal Display during the 1st quarter worth $49,000. Transce3nd LLC acquired a new stake in shares of Universal Display during the 4th quarter worth about $54,000. Finally, HM Payson & Co. raised its holdings in Universal Display by 235.4% in the 1st quarter. HM Payson & Co. now owns 436 shares of the semiconductor company's stock valued at $61,000 after buying an additional 306 shares during the period. Institutional investors and hedge funds own 78.19% of the company's stock.
Universal Display Trading Up 0.7%
NASDAQ:OLED traded up $0.94 during trading hours on Monday, hitting $142.41. The company's stock had a trading volume of 55,223 shares, compared to its average volume of 658,006. Universal Display Corporation has a 52-week low of $103.70 and a 52-week high of $215.90. The stock has a market capitalization of $6.77 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The stock has a fifty day moving average of $151.19 and a 200-day moving average of $144.53.
Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.23. Universal Display had a return on equity of 15.82% and a net margin of 36.95%. The business had revenue of $171.79 million during the quarter, compared to analysts' expectations of $161.58 million. During the same period in the prior year, the firm posted $1.10 EPS. The business's quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts forecast that Universal Display Corporation will post 4.71 earnings per share for the current year.
Universal Display Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.3%. Universal Display's dividend payout ratio (DPR) is presently 35.16%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on OLED shares. Needham & Company LLC reaffirmed a "buy" rating and set a $170.00 target price on shares of Universal Display in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $190.43.
Check Out Our Latest Analysis on Universal Display
About Universal Display
(
Free Report)
Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.
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